National Bank Financial Analysts Lift Earnings Estimates for Cargojet Inc. (TSE:CJT)

Cargojet Inc. (TSE:CJT) – Equities researchers at National Bank Financial boosted their FY2024 earnings per share estimates for Cargojet in a report released on Monday, April 29th. National Bank Financial analyst C. Doerksen now anticipates that the company will earn $4.92 per share for the year, up from their prior forecast of $3.51. The consensus estimate for Cargojet’s current full-year earnings is $3.69 per share. National Bank Financial also issued estimates for Cargojet’s FY2025 earnings at $4.91 EPS.

Cargojet (TSE:CJT) last released its earnings results on Monday, February 26th. The company reported C($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.88 by C($1.02). The firm had revenue of C$221.90 million for the quarter, compared to analyst estimates of C$250.58 million. Cargojet had a return on equity of 4.62% and a net margin of 4.25%.

Other equities research analysts also recently issued research reports about the stock. ATB Capital raised their price objective on shares of Cargojet from C$155.00 to C$160.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. BMO Capital Markets boosted their price objective on shares of Cargojet from C$110.00 to C$115.00 and gave the stock a “market perform” rating in a report on Tuesday, February 27th. National Bankshares increased their target price on shares of Cargojet from C$129.00 to C$132.00 and gave the company a “sector perform” rating in a research note on Tuesday. Scotiabank boosted their price target on Cargojet from C$142.00 to C$145.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Finally, Royal Bank of Canada cut their price target on Cargojet from C$184.00 to C$182.00 and set an “outperform” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$148.91.

Cargojet Price Performance

Shares of TSE:CJT opened at C$120.02 on Thursday. The company has a market cap of C$2.02 billion, a price-to-earnings ratio of 55.06 and a beta of 1.03. The business has a 50 day moving average price of C$112.36 and a 200 day moving average price of C$108.51. The company has a quick ratio of 0.79, a current ratio of 1.49 and a debt-to-equity ratio of 101.87. Cargojet has a twelve month low of C$76.50 and a twelve month high of C$125.44.

Cargojet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Wednesday, March 20th were given a $0.315 dividend. The ex-dividend date was Tuesday, March 19th. This is a positive change from Cargojet’s previous quarterly dividend of $0.03. This represents a $1.26 dividend on an annualized basis and a yield of 1.05%. Cargojet’s payout ratio is 57.80%.

Cargojet Company Profile

Cargojet Inc provides time sensitive overnight air cargo services and carriers in Canada. It operates domestic air cargo network services between 16 Canadian cities; and provides dedicated aircraft to customers on an aircraft, crew, maintenance, and insurance basis operating between points in Canada, North and South America, and Europe.